Exusia Digital
Investors

Lagos, group-owned gas generation

Lagos AI Compute Pilot

Evidence tier: Modelled

First containerised GPU-compute module, co-located with group-owned generation and engineered for AI training and inference workloads.

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Illustrative image

Key facts

Every figure, with its tier.

Capacity2.0MWEvidence tier: ModelledAs at August 2026. Financial model v3
All-in power costTo be confirmedEvidence tier: Modelled
Capex band$9M to 12MEvidence tier: ModelledAs at August 2026. Financial model v3
Energisation target2029Evidence tier: ModelledAs at August 2026. Financial model v3
Primary workloadAI training and inferenceEvidence tier: ModelledAs at August 2026. Financial model v3
Energy sourceGroup-owned gas generationEvidence tier: ModelledAs at August 2026. Financial model v3

Milestones

1 of 9
  1. Site identified, doneQ3 2026
  2. Energy source agreed, nextDate to be set
  3. Land secured, to comeDate to be set
  4. FEED commenced, to comeDate to be set
  5. Permits granted, to comeDate to be set
  6. Final investment decision, to comeDate to be set
  7. Construction start, to comeDate to be set
  8. Energisation, to comeDate to be set
  9. Commercial operation, to comeDate to be set

Done dates are recorded. Future dates are targets, not commitments.

The energy

Co-located with generation held within Exusia Energy International.

The workload

GPU-dense racks for training, fine-tuning and inference.

Sequencing

This project follows Ughelli deliberately. Mining revenue at Ughelli underwrites the AI build-out here, which is how a development-stage business funds high-value capacity without waiting for an anchor tenant.

Economics

All-in delivered power cost.

Evidence tier: Modelled

$0.042/kWh

Exusia Digital at Ughelli, on associated gas: fuel, O&M and generation capex recovery included.

As at August 2026. Financial model v3
All-in delivered power cost, US dollars per kWh
SourceRangeUS$ per kWhEvidence tier
Exusia Digital, Ughelli 0.042 Evidence tier: Modelled
Nigerian grid, industrial 0.09 to 0.13 Evidence tier: Illustrative
Diesel generation, Lagos 0.28 to 0.35 Evidence tier: Illustrative
US merchant power, ERCOT 0.03 to 0.05 Evidence tier: Illustrative

US dollars per kWh. Comparators are illustrative ranges. We publish the comparison least flattering to us (ERCOT) because an investor will find it anyway.

See the assumptions

The rest of the portfolio

Other projects

All projects

Delta State, associated gas

Ughelli Modular Site

Evidence tier: In development
Capacity5.5 MW
Power cost$0.042 /kWh
Capex band$18M to 24M
EnergisationQ3 2028

4 of 9 done, next: permits granted in Q3 2027

Location to be confirmed

HPC Research Cluster

Evidence tier: Modelled
CapacityTo confirm
Power costTo confirm
Capex bandTo confirm
Energisation2029

0 of 9 done, next: site identified